Riverstone Energy Limited Secondary Public Offering Centennial Resource Dev. (8556V)
08 November 2017 - 6:00PM
UK Regulatory
TIDMRSE
RNS Number : 8556V
Riverstone Energy Limited
08 November 2017
- THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION -
Secondary Public Offering in Centennial Resource Development
London, UK (8 November 2017) - Centennial Resource Development
Inc. ("Centennial") (NASDAQ: CDEV) has announced the commencement
of an underwritten public offering of 25,000,000 shares of Class A
common stock by affiliates of Riverstone Holdings, LLC and Natural
Gas Partners.
Riverstone Energy Limited ("REL") has participated for its
proportional share of the offering, resulting in the sale of
4,346,633 shares, equivalent to 18.2 per cent. of its total
investment in Centennial. The selling stockholders have also
granted the underwriters a 30-day option to purchase up to an
aggregate of 3,750,000 additional shares of Class A common stock.
If exercised, this would result in the sale of up to an additional
651,995 shares by REL. Information on pricing will be released in
due course.
REL's holding in Centennial, pro forma for this transaction and
excluding the option for underwriters to purchase additional
shares, is 19,542,288 shares, which results in a gross unrealised
value of $411 million based on the Centennial share price at
yesterday's market close.
About Riverstone Energy Limited:
REL is a closed-ended investment company that invests
exclusively in the global energy industry, with a particular focus
on the exploration & production and midstream sectors. REL aims
to capitalise on the opportunities presented by Riverstone's energy
investment platform. REL is a member of the FTSE 250 and its
ordinary shares are listed on the London Stock Exchange, trading
under the symbol RSE. To date, REL has made 17 investments spanning
conventional and unconventional oil and gas activities in the Gulf
of Mexico, Continental U.S., Western Canada, the U.K. North Sea,
the Norwegian Sea, Mexico and Credit.
For further details, see www.RiverstoneREL.com
Neither the contents of Riverstone Energy Limited's website nor
the contents of any website accessible from hyperlinks on the
websites (or any other website) is incorporated into, or forms part
of, this announcement.
About Centennial Resource Development, Inc.
Centennial Resource Development, Inc. is an independent oil and
natural gas company focused on the development of unconventional
oil and associated liquids-rich natural gas reserves in the Permian
Basin. The Company's assets and operations, which are held and
conducted through Centennial Resource Production, LLC, are
concentrated in the Delaware Basin, a sub-basin of the Permian
Basin.
Media Contacts
For Riverstone Energy Limited:
Brian Potskowski
Natasha Fowlie
+44 20 3206 6300
This information is provided by RNS
The company news service from the London Stock Exchange
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